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Assembly Bill 1502-Owning and Operating Skilled Nursing Facilities
CALIFORNIA - Governor Gavin Newsom has signed Assembly Bill 1502, the Skilled Nursing Facility Ownership and Management Reform Act of 2022, authored by Assembly members Al Muratsuchi (D-Torrance) and Jim Wood (D-Healdsburg).

The bill enhances California's Department of Public Health (CDPH) authority to prevent unqualified and unethical entities from owning and operating skilled nursing facilities (SNFs) within the state. AB 1502 bars individuals or corporations from acquiring or running an SNF without obtaining a license from the CDPH.

The legislation mandates the CDPH to assess an applicant's reputation and responsibility, examining compliance histories of related facilities over the previous five years, and reviewing criminal histories. Furthermore, the bill empowers the CDPH to impose civil penalties for operating a facility without proper license approval. Assembly member Muratsuchi emphasizes the need to safeguard seniors in nursing homes, particularly in light of the COVID pandemic's impact. He criticizes the existing lax regulations that allowed unlicensed operators to run facilities despite documented health and safety violations. Joint author Wood acknowledges Muratsuchi's dedication to improving the licensing process and protecting vulnerable residents.

The legislation, prompted by the 2017 State Auditor report highlighting inadequate oversight, addresses concerns raised regarding SNFs with substandard quality of care. AB 1502 incorporates recommended reforms to enhance the state's licensing oversight of skilled nursing facility ownership and management.

Notably, it aims to prevent operators like Brius Healthcare, California's largest nursing home chain, from operating without a license despite numerous health and safety violations. The bill represents a significant step towards ensuring responsible ownership and management of nursing homes in California.

REAL ESTATE - 7 Trends For Upgrading your kitchens, Baths, and Storage

Bathroom Design Trends:
Transitional Style: A blend of modern and traditional elements is popular, with features such as porcelain clawfoot tubs, neutral-colored walls, pedestal sinks, and glass door showers.
Contemporary and Modern Styles: These are also popular choices for bathroom design.

Bigger Bathrooms:
A significant trend is the desire for larger bathrooms, with 22 percent of homeowners surveyed planning to expand their primary bathrooms to 100 square feet or more.
Expansion often involves repurposing space from closets, hallways, or even bedrooms to create a more spacious, spa-like atmosphere.

Wood-Colored Vanities:
White is being replaced by wood-colored vanities as the second most popular color choice for bathrooms. Gray, although still chosen by some, has seen a decrease in popularity.

Sustainability:
Homeowners are increasingly making sustainable choices in renovations, with 45 percent opting for timeless designs to reduce the need for frequent renovations. The use of LED lightbulbs, light dimmers, and water and energy-conserving installations is on the rise.

Ceramic and Porcelain in Showers:
The majority of homeowners prefer ceramic or porcelain for shower walls (82 percent) and flooring (61 percent), especially in the context of transitional style. Marble is chosen by a smaller percentage for a more luxurious shower, and other materials like quartzite, granite, and slate are also used.

Mirror Upgrades:
New bathroom renovations often include mirror upgrades, with nearly three-fourths of homeowners installing new mirrors. Technology-driven features, such as LED lighting and anti-fog functionality, are influencing mirror choices.

Recessed Lighting:
Recessed lighting remains the most popular choice for bathroom lighting, offering a sleek look, even illumination, and practicality, especially in preventing head knocks. These trends collectively suggest a shift toward more spacious, sustainable, and technologically enhanced bathroom designs, with a focus on natural elements and a blend of styles.

MORTGAGE - Mortgage Rates as of November 27th 2023. As of Monday, November 27, 2023, the mean interest rate for a 30-year fixed-rate mortgage experienced a marginal uptick, reaching an APR of 7.258%.

Concurrently, the average rate for a 15-year fixed-rate mortgage saw an increase of four basis points, reaching an APR of 6.532%. Meanwhile, the average rate for a 5-year adjustable-rate mortgage remained unchanged at 8.121% APR. 

These figures, sourced from Zillow and provided to NerdWallet, indicate a minimal one basis point rise in the 30-year fixed-rate mortgage compared to the previous week and a 73 basis points increase compared to the same time last year. It's important to note that these rates are expressed in terms of an annual percentage rate (APR).